Bull market has longer to run: MarketWatch readers

MarketWatch readers appear to be optimistic the bull market in stocks has longer to run.

An informal poll asking what phase of the bull market readers felt we are in drew more than 3,000 responses Friday.

The poll gave readers a choice from among the four stages of a bull market identified by Sir John Templeton and Laszlo Birinyi. A plurality of readers, 35%, indicated we are still only in the third phase “optimism / acceptance.” The next largest group picked the second phase, “skepticism / digestion.” Only 22% picked the final phase “euphoria / exuberance,” while 14% picked the first phase “pessimism / reluctance,” or “Other.”

Among other words used by readers to describe the bull market were: \”Fantasy,\” \”Fear of Falling,\” \”head in the sand,\” and \”ponziland.\”

Ed Yardeni, president and chief investment strategist of Yardeni Research, said this week he thinks the bull market has entered its final phase. And others are warning of sub-par returns for many years to come.

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